Preservation of Bearish Trend of EUR/USD

By IBT Staff Reporter On 06/14/11 AT 8:00 PM

CHF

The planned breakout variant for buyers was realized with achievement of the assumed target. OsMA trend indicator, having marked close parity of parties’ activity in general, doesn’t introduce any certainty in relation to choice of priorities for today. Thus, presently, taking into account the descending direction of the indicator chart, we assume a possibility of retracement to the nearest supports 0,8450/60, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term long positions, on condition of formation of topping signals, the targets will be 0,8490/0,8500 and/or further breakout variant up to 0,8530/40, 0,8570/80, 0,8610/20. Alternative for sales will be below 0,8390 targeting 0,8350/60, 0,8310/20.

GBP

Drop of activity of both parties, marked by OsMA trend indicator yesterday, didn’t dispose to conditions for realization of existing trade plans. Presently, based on assumptions about range movement of the rate, we assume a possibility of its return to the nearest resistance levels 1,6400/20, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term sales, on condition of formation of topping signals, the targets will be 1,6340/60, 1,6280/1,6300 and/or further breakout variant up to 1,6220/40, 1,6160/80, 1,6100/20. Alternative for buyers will be above 1,6480 targeting 1,6520/40, 1,6580/1,6600.

JPY

Earlier opened and preserved long positions had positive result of achievement of the minimum and basic assumed target. OsMA trend indicator, having marked preservation of parties of parties activity, gives grounds to assume further range movement without any certainty in relation to choice of priorities for today. Thus, presently, as earlier we assume a retracement to the nearest supports 80,20/30, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term long positions, on condition of formation of topping signals, the targets will be 80,60/70 and/or further breakout variant up to 81,00/10, 81,40/50, 81,70/80. Alternative for sales will be below 80,00 targeting 79,60/70, 79,20/30.

EUR

The planned short positions from the key resistance levels were realized with achievement of the minimum assumed target. OsMA trend indicator, having marked low level of both parties’ activity in general, doesn’t introduce any certainty in relation to choice of priorities for today. Thus, presently, we assume a possibility of retracement to the Ichimoku cloud boarders at 1,4440/60, where it is recommended to evaluate activity development on the charts with smaller time frame. For short-term sales, on condition of formation of topping signals, the targets will be 1,4370/1,4400 and/or further breakout variant up to 1,4310/30, 1,4240/60. Alternative for buyers will be above 1,4520 targeting 1,4660/80, 1,4620/40, 1,4680/1,4700.